Current Business News in Kenya: Banking | Economics

Alibaba’s founder and billionaire Jack Ma has stirred up controversy after saying that young people should see major tech companies’ overtime work cultures as a “huge blessing.”

Remittances have risen to the equivalent of over three percent of Kenya’s Gross Domestic Product (GDP), according to a new report from the World Bank.

Equity Group wants to give its employees an additional Ksh8.6 billion ownership of the Ksh150 billion company. The matter will be up for discussion as special business at the Group’s Annual General Meeting (AGM) on April 30.

Gooseberries are regarded as wild fruits. They are believed to grow on their own in bushy areas or in the forest.

City transporter Kenya Bus Services has announced the addition of 50 buses to their fleet after vehicle maker Hino Kenya supplied the pre-owned units for an undisclosed amount.

Counties are still heavily reliant on equitable share from the national government after failing to meet targets set in the collection of own source revenue.

A lawsuit against Boeing Co was filed in US federal court on Thursday in what appeared to be the first suit over an Ethiopian Airlines 737 MAX crash that killed 157 people.

Chinese telecoms giant Huawei said revenues topped $100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat.

Shareholders of Kenya’s seven-biggest banks are set to get Sh34 billion in dividends, representing a 13.6 percent increase from last year.

Casinos, land and luxury vehicle transactions are set to come under close scrutiny as the State moves to close loopholes that criminals and corruption cartels use to launder illicit cash.